Asked by MARIA URIEL CIFRA on Apr 25, 2024
What is the marginal tax rate and how is it determined?
Marginal Tax Rate
The rate at which the last dollar of a taxpayer's income is taxed, indicating the percentage of tax applied to their highest dollar of income.
- Clarify core tax concepts, highlighting proportional and regressive tax systems, and the contrast between marginal and average tax rates.
Learning Objectives
- Clarify core tax concepts, highlighting proportional and regressive tax systems, and the contrast between marginal and average tax rates.